Sell right now is not good choose to get profit with bitcoin because we can see how bitcoin keep down with lower price, maybe waiting next month for selling bitcoin because can give chance to get back with higher price for bitcoin, better not selling right now with price still lower and waiting when have good information about bitcoin become legal currency payment in one country.
I agree with you. It is better to hold for a while until the price back to a higher price. I only suggest if he cannot wait for a while, but that is not a good solution to recover the loss of the money. The market will be recovered too, and that is why we need to have more patience to wait for it.
I would suggest selling at 10% profit at any given time if you are looking to be a trader. Anything above 10% is just risk and if you sell it that much then putting a buy order at a 30% drop of value is also a great idea. So, let's say you purchase bitcoin at 100 dollars, if it goes to 110 dollars you should sell, if it goes to 70 dollars you should buy more. I know purchase average dropping has been a topic for many many times and people are sick of hearing the same thing but it is talked about that much because it works.
I don't understand why people are worried about becoming rich over night or they are investing with all their money all at once. You should put a bit of your money in (probably less than 50%) and if it drops you can buy more, if it goes up a bit you can profit a small bit, if you continue doing this all year every year, you will retire early. Yes you won't be able to buy ferrari and live in pent house etc etc but it will be a better life than you are living right now.
Your suggestion makes sense, I prefer to take a little profit, but I can get the profit over and over. We never suggest investing with all their money all at once because that is too risky for their money. Besides that, the crypto market cannot be predicted, so anything can happen later. It is better to invest with the money we can afford, so if we lose the money, we can learn from the mistake.
Everyone has their own prediction but for what I can see there is not any need to make any kind of important movement now, if you are out of the market wait a little bit more until things become clearer and we can determine if the market will go up during the next months.
But if you are already in the market then you need to monitor the price, if at some point we get a close below 6500 that could be a clear indication to get out of the market before a new crash happens.
We don't have to make a rush action if the market is not moving fast because who knows, after the next hours, the market can give hope to us so we can back to make a profit. Waiting for a while is a good suggestion in the unpredicted market while we can also earn another strategy if the market goes to any moves. Perhaps, we can use the alarm from the apps that we used, so we know if the price moves to one range of the price, we can understand what we need to do.
